MMM Crash: 3 Million Nigerians Lose Over N18.765billion

As thousands of Nigerian participants and investors continue to groan
and moan, some even cursing, over the ‘crash’ of the popular ponzi
scheme, otherwise known as MMM, investigations has revealed that one
Chuddy Anayo Ugorji, popularly referred to as “The MMM-Nigeria number
one Guider,” may have allegedly raked over N5billion within a year from
the embattled system.

An analyst says Nigerians (figure yet to be
compiled) lost in excess of N8.765billion to the scheme. Many people
borrowed loans and some sold their properties to be able to participate
in anticipation of funding the Christmas and New Year with the profit
margin that was to come with their principal.

An Abuja-based
lawyer dipped his hands into some client funds in the chambers to invest
N1million just 24 hours before the crash of the scheme. Several
official institutional warnings were issued about the dangers inherent
in the scheme which was known to have crashed in other nations of the
world.

According to a social media pundit, Olushola Oke, ‎“Chuddy
is the head Admin of MMM, he is the one who brought MMM into Nigeria,
he is the one who runs things at MMM just the way Mark Zuckerberg runs
Facebook. People fail to realise that a Website cannot create itself, a
human being has to see through its day to day activities and Chuddy is
the one behind MMM and the same Chuddy is also a participant of this
same MMM and this same Chuddy is also the number one Guider on this same
MMM.

“Don’t you already see that there is already A Red flag? He
even collected a whopping N6million payment on the 8th of December! As
at the last check, 94,774 persons had bought into the scheme.

Crash
story is a ruse: Promoters of MMM Nigeria, known as Guiders have urged
Nigerians to remain calm as the one month freezing of all accounts of
the scheme is a measure adopted to ensure sustainability and stability
of the scheme. The system which entails the Providing Help (PH) and the
Getting Help (GH) also assured that there is nothing to worry about
since the ‘FROZEN ACCOUNT’ period is even the best time to provide help.